“The county often uses its AAA bond rating to help our local governments fund capital improvement projects at the lowest interest rates possible,” Patterson said. “This collaboration between county and city saves taxpayers tens of thousands of dollars.”
Both bond rating agencies pointed to the county’s strong fiscal practices as the reason for awarding it the highest credit rating.
“We expect the county’s financial position will remain strong going forward owing to continued application of very solid fiscal management practices,” Moody’s said.
S&P agreed, also citing the county’s strong economy.
“Key strengths are management’s use of a three-year rolling budget and frequent budgetary adjustments through the year. …We consider Oakland County’s economy to be strong….” S&P said.